Crypto ICO Price Continues to Fall, Likely Due to Growing Regulatory Pressure
Blockchain and crypto projects that raised millions of dollars via tokenized crowdfunding means are now lining up to return their capital to their original investors. Because apparently, they were not allowed to raise funds in the first place. The Securities and Exchange Commission (SEC) has gone after these startups for reportedly violating existing securities laws. The […]
FinTech licence: FINMA publishes guidelines
From 2019, interested parties can apply for the new FinTech licence. The Swiss Financial Market Supervisory Authority FINMA is responsible for granting this licence. It has published guidelines aimed at simplifying the application process. To boost innovative financial companies, the Swiss parliament has introduced the new FinTech licence (persons under Article 1b of the Banking […]
Billionaire Mike Novogratz Says Crypto ICO Market is Pretty Much Dead Now
Today, the initial coin offering (ICO) market has pain written all over it. A once-popular mechanism, used by blockchain startups to raise funds using crypto to develop their products, lured speculators into investing billions of dollars for their native tokens. However, a majority of these startups either turned out to be scams or purely incompetent […]
FINMA revises “Public deposits with non-banks” circular
The new sandbox concept and the extended time frame for settlement accounts defined in the revised Banking Ordinance entered into force on 1 August 2017. In doing so, the Federal Council sought to reduce unnecessary regulatory obstacles for innovative business models. FINMA has now detailed these new rules in its amended circular “Public deposits with […]